Managed App, the pioneer of automated payments for agencies managing residential rent rolls, has today (11 February) announced a ground-breaking commercial property management module for new and existing clients.
Agencies powered by Managed App can now effectively and efficiently manage both residential and commercial tenancies with direct-to-user payments across their entire rent roll on one platform.
Managed App is a comprehensive cloud-based property management platform that offers an alternative to the arduous and expensive process of administering payments via a trust account.
As well as direct and automated payments, this end-to-end digital solution also provides property managers with a tradie marketplace that speeds up and reduces costs for work orders and maintenance.
The new module, called Managed Commercial, will enable agencies that manage both residential and commercial tenancies in parallel to reclassify leases in their CRM, set recurring bills and advance schedule invoices, automate the monthly calculation of tenant outgoings and provide detailed tax reports, to name just a few of the new features this expansive offering delivers.
The introduction of this suite of features is in response to customer demand and a steadfast approach to ensuring property managers are equipped with the tools they need to service landlords, said Managed App head of product Rohith George.
According to Mr George, a number of agency customers were managing commercial property on Managed App, but not as effectively as they would have liked.
“Commercial tenancies are far more nuanced, with longer lease terms and numerous costs shared between owner and tenant often with options to re-lease and break tenancies. The new commercial module is a game changer,” Mr George told REB.
“Unlike a residential lease, commercial leases are typically a business expense and so we needed to identify this, and create tools that report the required information to bookkeepers or accountants,” he said.
The launch of Managed Commercial is a major step towards connecting all facets of an agency through technology and payments.
“Residential PM teams, commercial PM teams, sales teams and administration teams all work together to support the customer experience. Technology is the connective tissue that brings them together,” Mr George said.
The Managed App platform has built a rapidly growing client base spanning every state across Australia.
The addition of this new commercial capability marks an important milestone for the business, ensuring property managers that manage both residential and commercial tenancies can use the one platform while also benefiting from direct and automated payments.
Since its launch, Managed App has been adopted by offices across all the major real estate franchise networks as well as independent groups of all sizes.
Mr George said that Managed App has already surpassed $1 billion in transactions, with the number of leases on the platform increasing by more than 50 per cent in the last six months.
The latest innovation is expected to broaden the appeal of Managed App while adding significant value to existing agencies.
“We expect to see the large commercial managers take advantage of direct-to-user payments,” Mr George said. “We know that the benefits experienced by small-to-medium sized agencies will translate to significant advantages for the large commercial agencies managing significant assets.”
This latest product development reaffirms Managed App’s commitment to innovation as well as building products and services that support better real estate practices through technology, Mr George said.
Last year, Managed App was recognised as a leading digital technology business across several key industries at the Australian Digital Technology Awards.